The track, which is this year's official Comic Relief record, is available to pre-order now on iTunes and will be released on Sunday, February 17. The physical copy will be available in Sainsbury's one day later.
Harry Styles, Louis Tomlinson, Niall Horan, Zayn Malik and Liam Payne will perform the track live at the Brits on Wednesday, February 20.
"We are really excited to be part of Red Nose Day this year. We recorded Blondie's 'One Way or Another' and we really want the song to raise lots of money and for people to show their support by going out and buying themselves a copy," said Horan.
Tomlinson added: "Getting the chance to perform Blondie's song will be incredible. We're so excited! Red Nose Day is a great excuse to have a lot of fun and to raise money, please get involved."
Watch a clip of One Direction making the video for their Red Nose Day single:
Red Nose Day celebrates its 25th birthday on Friday, March 15 with a fundraising extravaganza on BBC One.
Michael McIntyre, Rob Brydon, John Bishop, Zoe Ball, Lenny Henry, Davina McCall, Jack Whitehall, Nick Grimshaw, Jonathan Ross and Claudia Winkleman will host the evening of comedy, music and entertainment.
Other fundraising events this year include Melanie C, Jack Dee, Chelsee Healey, Phillips Idowu, Greg James and Dara Ó Briain trekking down the Zambezi River and Helen Skelton taking on a Magnificent 7 day of challenges in seven different parts of the county.
Watch Blondie's original version of 'One Way or Another':